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Metacade price traded to highs of $0.034 a few days ago before the overall lull in the crypto market helped bears return the GameFi token to levels around $0.023.
But with MCADE poised above a key support level and with bitcoin breaking above $28,000 again, it could be an explosive upside return for Metacade price ahead of the highly anticipated listing on major cryptocurrency exchange MEXC.
Elsewhere in the market, the price of Hourglass (WAIT) has spiked more than 20% in 24 hours amid major announcements for the decentralised token.
Will the MEXC listing drive the Metacade price higher?
As the developer team continues to build the platform, which is what they confirmed in an AMA last week, a number of key developments are already positioning the play-to-earn project for major growth. Among these are partnerships with leading market platforms and gaming ecosystem players, the latter with gaming startup MetaStudio.
In terms of demand in the secondary market, the listing on Uniswap was big as it put MCADE on the world’s largest DEX platform. BitMart allowed for more liquidity and visibility as the first CEX to list the token.
As recently announced by the Metacade team, MEXC is set to be the next major exchange to list its token. When this happens, expected to be the end of April or early May, it could provide for a potential bump in buyside pressure as more people access the token.
Metacade takes a unique approach to Web3 gaming
Metacade is a project being built as the ultimate cryptocurrency gaming arcade platform for the Web3 community. This is where game developers, gamers and gaming ecosystem investors and enthusiasts will play, earn, build and collaborate.
The project is set to launch to the public in 2023 and will offer a “dynamic virtual hangout” where ecosystem participants will tap into the best of GameFi and Web3. The MCADE token will power the platform, with future developments towards more community governance coming with the launch of a decentralised autonomous organisation (DAO).
What is Hourglass and why did WAIT surge today?
Hourglass is a decentralised, community token that stealth launched on 19 August 2022 and uses the native token WAIT to power network activities and transactions.
As seen with the price of Hourglass (WAIT), developments in project fundamentals and positive news can have a bullish impact on price. On Wednesday, the WAIT token rose nearly 20% as the Hourglass team announced the Hourglass Foundation Incubator.
The cryptocurrency, currently with a market cap of $41 million and ranked 508 on CoinGecko, also added billionaire Jeff Mahony as the Chairman. Mahony is the founder and Chairman of SaveDaily Holdings Corp as well as the Managing Director of NEFT Vodka.
Hourglass also recently announced crypto and Web3 investor Brian D. Evans, and renowned crypto YouTuber, George Tung as chief advisors.
Metacade price prediction
Crypto prices can be highly volatile and predicting exact price movements is difficult. However, Metacade is a new project that has investors excited about what’s possible with its unique approach to the gaming industry.
Metacade’s all-time low price of $0.0148 reached on 16 April came after the token’s listing on decentralised exchange Uniswap. A few days later, as MCADE went live on BitMart, one of the leading centralised exchanges in the space, the GameFi token exploded – hitting the highlighted highs of $0.034.
At today’s prices, MCADE is roughly 60% from the all-time low. It’s also above the final presale price.
A look at Metacade price prediction, the 4-hour chart shows the MCADE breakout came after consolidation in the $0.017-$0.019 range.
An uptick could be on the cards ahead of the major listing on MEXC, and particularly if a rebound in the broader altcoin market happens. In this case, a move to retest the all-time high would be likely, with $0.05 and $0.1 the two major targets in the short term.
The current outlook, however, suggests bulls need to hold above the $0.022 support area to avoid possible downside to the previous demand zone. The 4-hour RSI slightly slanted below 50 gives sellers an advantage if the price falls below the level highlighted by the exponential moving average ($0.022).
On the flipside, the immediate resistance is near $0.024.
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